0 sats \ 0 replies \ @Storyteller 3 Sep 2023 \ on: Sharing my Experience of Selling a Digital Course with Bitcoin and Fiat 🤔 bitcoin
I think you need to figure out the price of your services in dollars, say $997, or $97 dollars and convert those into sats.
And if the price of bitcoin doubles in dollars you need to adjust your price in sats.
I now think in dollars (still). I also have an online course site and I want to start receiving Bitcoin and sats.
But I think in dollars as that has been the mindset. My products are priced like $1997 or $997 or $597.
People in my market see these levels of pricing and they make a decision like hmm $997 I invest in something that solves this kind of problem.
A $1997 product solves another type of bigger problem. A $1997 course is a 6 week course that helps you generate x amount of business.
A $9997 level couree is like a mastermind. Next level course.
So the key question is: what are the mental models when you translate these into sats?
Do people think that a 3 million Sats course is a great course? Currently?
Would people pay 10 million sats to get a huge problem solved?
Maybe people will also feel attached to their 10 million sats because they think it will be more in dollars in about 2 years.
So how many people will you find that want to give you 10 million sats?
I think ultimately we will start thinking in sats.
The people in Venezuela do not think in bolivares. They do not price their products in bolivares because the bolivar is changing all the time against the dollar.
Of course if I price my services in dollars like the $997 dollars I am fooling myself.
The $997 dollar of last year is not the $997 dollar of this year. I had to adjust this price with inflation. Say 4.5% or 7%.
So the sats might be a better measure because there is no inflation of sats!!
If you forget about the dollar price 10 million sats today is 10 million sats tomorrow.
You got a piece of the total supply of Bitcoin regardless of the price.
We need to start thinking in terms of “ what is the piece of the total bitcoin supply I want for my service”?
Is this effort /course 10 million sats or 5 million?
Or is this service an effort of 100 million sats? Regardless of the price.
When other people start saying to buy my villa you need to pay me 1 bitcoin you know that you need to deliver much more value, equivalent to a villa to receive 1 bitcoin.
If somebody wanted to trade 1 villa for 5 teslas would you do it?
And for 3 teslas? 2 porsches for one villa would you do it?
In the last trading examples you are kind of guessing what the value is of the villa. Not in dollars. But you are trying to guess if the value is the same.